Mr. DIY set to open in two new markets in 2023

Malaysia-based home improvement retailer Mr. DIY is set to open in two new markets over the next six months after launching 425 new stores – or around 2.36 outlets daily – in ten countries during the first half of the year.

Leo Gan, business development senior vice president for the group, announced, in a LinkedIn post, plans to expand to two additional countries within the year. He did not identify the new territories, but it had been earlier announced that the biggest home improvement retailer in Asia in terms of store count was looking to open in Vietnam, which had been passed over along with Laos and Myanmar during Mr. DIY’s expansion binge in Asia a few years back.

Mr. DIY is also expected to start operations in Greece, where the company already has a subsidiary, Mr. DIY Greece Monoprosopi SA, which is headquartered in the upmarket neighbourhood of Kolonaki, Athens. Greece is expected to be the second market of the Malaysian home improvement brand in the European Union after Spain.

Gan had earlier met up with business associates in Greece as well as the team that is set to pioneer the operations in Vietnam. 

Apart from the two markets, Mr. DIY could also venture into any of the eastern European countries. Company officials had earlier said that research was being conducted on the planned expansion into the region.

Currently, the company operates in its home turf of Malaysia as well as in Brunei, Thailand, Cambodia, Indonesia, the Philippines, Singapore, India, Turkey and Spain.

Gan said that with the foray into the two new markets this year, Mr. DIY is looking to open 493 more outlets across twelve countries for the rest of the year.

Rapid expansion is one of the pillars of Mr. DIY’s growth strategy. In 2022, the Malaysian retailer opened 741 new stores across ten countries, bringing its global store count to over 2 500 branches. The company, however, has also said that this year’s expansion plan would be “measured”, in light of geopolitical factors and inflationary pressures.

Mr. DIY owns all its eponymous stores. In Malaysia, it also operates Mr. Toy, a toy store, as well as Mr. Dollar, a fixed-price retailer. It also recently added a new brand, Emtop, to its retailing formats. The store sells a broad range of power tools.

Jennee Grace Rubrico